StarTek Inc. (SRT) Stock Rating Upgraded by Zacks Investment Research
StarTek Inc. (NYSE:SRT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday. The brokerage presently has a $9.00 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 1.69% from the stock’s current price.
According to Zacks, “StarTek, Inc. is a global provider of process management services and owns and operates branded vertical market Internet web sites. Their process management service platforms include E-commerce support and fulfillment, provisioning management for telecommunications systems, high-end inbound technical support, and an offering of supply chain management services. As an outsourcer of process management services as its core business, StarTek allows its clients to focus on their primary business, reduce overhead, replace fixed costs with variable costs, and reduce working capital needs. “
Several other analysts have also recently issued reports on the company. TheStreet raised StarTek from a “sell” rating to a “hold” rating in a research note on Wednesday, September 7th. Lake Street Capital raised StarTek from a “hold” rating to a “buy” rating and raised their target price for the stock from $6.00 to $9.00 in a research note on Tuesday, November 8th.
StarTek (NYSE:SRT) opened at 8.95 on Friday. The firm’s market capitalization is $140.82 million. The firm’s 50-day moving average price is $6.47 and its 200 day moving average price is $5.09. StarTek has a one year low of $3.30 and a one year high of $8.99.
StarTek (NYSE:SRT) last posted its earnings results on Monday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The company had revenue of $78.30 million for the quarter, compared to analysts’ expectations of $75.78 million. StarTek had a negative return on equity of 1.10% and a negative net margin of 0.15%. During the same period last year, the firm earned ($0.49) earnings per share. On average, equities analysts anticipate that StarTek will post $0.05 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in StarTek stock. Heartland Advisors Inc. raised its position in StarTek Inc. (NYSE:SRT) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,442,400 shares of the company’s stock after buying an additional 42,400 shares during the period. Heartland Advisors Inc. owned approximately 9.17% of StarTek worth $8,972,000 as of its most recent SEC filing. 41.68% of the stock is currently owned by institutional investors and hedge funds.
StarTek, Inc (STARTEK) is a customer engagement business process outsourcing (BPO) services company, which is delivering customer care solutions. The Company operates its business in three segments, based on the geographic regions: Domestic, Nearshore, and Offshore. Its Domestic segment includes the operations of approximately 10 facilities in the United States and one facility in Canada.
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